In mid-April 2024, Elon Musk, the electric vehicle (EV) maker’s CEO, indicated that the company would reduce its workforce by 10% in response to global economic pressures and a decrease in demand. At this time, Musk stated this is a “difficult decision” as the company employs more than 140,470 workers. He wrote: There is nothing…
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In its Chapter 11 filing, the Florida-based chain listed assets and liabilities between $1bn and $10bn each. Under this petition, the company can continue operations while devising debt repayment plans. Red Lobster will reportedly allow its lenders to control the organisation. According to Bloomberg, these financiers agreed to pay $100m to help the company through…
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This came after the cruise line operator decided to raise its outlook for full-year profits in the face of what it called “very strong demand”. A presentation of its strategy titled ‘Charting the Course’ was included in this update made at the company’s investor day, and it laid out its plans to increase shareholder returns.…
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The Chinese National Bureau of Statistics pointed to retail sales rising by 2.3% in the month of April when compared to the same period last year. An increase of 3.8% had been expected in this area, while March’s number showed 3.1% growth from the previous year. Better news came in the period between 29 April…
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The Stockholm-based investment company said current negotiations centre around a possible cash offer of £25.50 per share. Based on Reuters information, KWS closed Friday, 17 May 2024, trading at £14.70, a 5% increase from its previous session. The EQT offer tops this value with 73%. According to reports, EQT previously made four unsolicited offers for…
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Revenue for the 2023 fiscal year increased by 75%. The company attributed this uptrend to positive organic growth and the “benefit of acquisitions”. This included the ED&F Man Capital Markets division and the Cowen acquisition in December 2023. The firm stated: Performance was strong across the Group. Revenue rose 75% to $1,245 million and Reported…
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Thanks to the unexpectedly good results, WMT shares jumped by around 7% on Thursday, making it the most positive day since early 2020 as they rose to an all-time-high price of $64. This was enough to push the total value of WMT to almost $516bn, with a $34bn hike on the day. WMT is the…
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Aspects under investigation are how Meta’s algorithms possibly promote “behavioural addictions” and create “so-called rabbit-hole effects”. A study available on ResearchGate depicted the rabbit-hole effect as the “use of algorithms” that amplify personalised content to keep users engaged. The European Commission also expressed concerns about Meta’s age verification processes. Don’t miss out the latest news,…
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Tickmill clients can now receive up to 3.5% annual interest on their USD, EUR, and GBP wallets, subject to specific eligibility criteria. This initiative, designed to meet the evolving needs of today's investors, combines attractive interest rates, daily interest accrual, and prompt monthly payments. It can serve as an alternative to traditional fund management avenues,…
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These encouraging numbers were confirmed at the streaming giant’s second Upfront presentation for advertisers on Wednesday. While the ad plan isn’t offered in every region, it now makes up more than 40% of all new sign-ups in the markets where it’s available. Netflix content chief Bela Bajaria stated that “our audiences are highly engaged –…
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